Portuguese media coverage of Formula 1 generated 13,1 million euros in three days

It is estimated that the holding of the Grand Prix of Portugal, in Portimão, generated a financial impact between 40 and 50 million euros. With regard to Portuguese media coverage, televisions alone generated 10,9 million euros, according to an analysis by Marktest.

The realization of a Formula 1 (F1) Grand Prix in Portugal generated news coverage on a national scale and across all media, between the 23rd of October 25th. In three days, F1 generated 13,1 million euros of media return, according to a clipping analysis from Mediamonitor, from Marktest.

The media surrounding the passage of the 'Grande Circo' at the Autódromo Internacional do Algarve generated, according to Marktest's analysis, 1.453 news items: 956 published in online support (66%); 318 on television (22%); 119 on the radio (8%); 60 in the press (4%).

The day of the final race of the Portuguese GP was the one that generated the most intense media coverage, with the publication of 703 news articles in national media.

However, despite the dominance of the news published in the sites of the Portuguese media, it was the 318 news and reports broadcast by the main television channels that generated the greatest media return. Thus, 10,9 million euros were generated by television coverage; 1,6 million originated from the publication of articles on the internet; 498,5 were generated by news coverage in print; 95,7 thousand euros emerged from the news pieces broadcast on the radio.

In this way, television was the medium of communication that made the greatest contribution to the media environment that the Grand Prix of Portugal generated only in Portugal. “Television was also the medium responsible for the highest volume of gross audience points (48% of the total GRP's), with an accumulated record of 538,6%”.

The financial return generated in a single weekend is just a slice of the global financial impact that the 'big circus' will have in Portugal. Economist Paulo Reis Mourão, researcher and professor at the University of Minho and author of the book 'The Economics of Motorsports: The Case of Formula One', estimated that the passage of F1 through Portugal generated at least a financial impact of between 40 and 50 million euros.

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